Current Rate Values
 Prime Rate 3.25 as of 2012-06-15
 WSJ Prime Rate (Wall Street Journal) Prime Rate 3.25% (a decrease of 75 basis points occurred on December 16, 2008)
 Federal Funds Rate 0.18 as of 2012-06-15
 Discount Rate 0.75 as of 2012-06-15
 1 Month CD Rate 0.2 as of 2012-06-15
 3 Month CD Rate 0.32 as of 2012-06-15
 6 Month CD Rate 0.49 as of 2012-06-15
 4 Week Treasury Bills 0.05 as of 2012-06-15
 3 Month Treasury Bills 0.09 as of 2012-06-15
 6 Month Treasury Bills 0.15 as of 2012-06-15
 1 Year Treasury Bills 0.17 as of 2012-06-15

Free Credit Report by Government Mandate

What is Credit Report and Credit Score?

Credit report is a detailed record of person’s past borrowing and repayment history. This report includes such details as late payments and bankruptcies. This report also includes amounts of outstanding loans and their payment deadlines.

Credit score is a number from 300 to 850 which represents creditworthiness of a person. This score is based on analysis of the credit report and statistical calculation of how likely the loan given to that person will default.

Why you need to check credit report and why government cares?

Credit check is widely used in United States to determine financial situation of a person or business. If you’re going to by car, boat, house and pretty much anything using loan you need to know your credit situation. No bank will give out a loan without checking credit history first. And interest rate that you will get on a loan will be dependent on your credit report and credit score.

Since buying credit report from all 3 agencies was very expensive government decided to provide consumers with an option to get one credit report from all 3 agencies free of charge one a year.

Is it really free and where to get it?

Yes, there is such thing as free credit report from the government. According to Fair Credit Reporting Act (FCRA) each credit reporting agency (Equifax, Experian and Transunion) has to provide you with a free copy of a credit report. But these agencies are not required to send it to you every year by themselves. To get the free credit report you will need to do following:

Visit www.annualcreditreport.com or freecreditreport.gov which are official websites providing free credit report government. Both freecreditreport.gov and annualcreditreport.com are government websites and are safe to use.

Call 1-877-322-8228. This is a phone of an Annual Credit Report Request Service where you can order your report by phone.

Complete Annual Credit Report Request form and send it to the following address: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

Note that you will be required to confirm your identity to receive your free credit report.

Contacting credit reporting agencies directly

In case you have specific questions about your credit report you can also call credit reporting agencies directly. Below are their phones:

  • Experian – (1-888-397-3742)
  • TransUnion – (1-800-888-4213)
  • Equifax – (1-800-685-1111)

For more information visit www.annualcreditreport.com or freecreditreport.gov. These are government websites and are safe to use.

 
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